Bill S6395, which will ban the entering of confessions of judgment in New York Courts against a non-New York resident, was officially delivered today to Governor Andrew Cuomo for his signature. The bill is slated to go into effect immediately after his signature. The governor has approximately 10 days to sign the bill. However, it’s possible that the legislature could afford the timeline some flexibility.
The road to this point and what follows can be viewed on the NY Senate’s website.
The law is intended to deter the New York Court system from facilitating small business financial collection efforts against non-New York state residents.